Abu Dhabi's Waha Capital Q3 profit soars fourfold

Waha Capital, an Abu Dhabi-based investment firm, posted a near fourfold increase in its third-quarter profit as income from its portfolio companies increased sharply.

Waha posted a quarterly profit of AED107.1m ($29.2m), compared with AED27.5m for the year-ago period, it said in a bourse statement on Monday.

The investment firm said income from its portfolio companies, which include New York-listed AerCap Holdings , rose to AED84.9m during the quarter from AED49.5m for the same period last year.

Salem Rashid Al Noaimi, CEO and managing director,
said: “Our portfolio companies, and especially AerCap, are delivering excellent
returns, justifying our long-standing faith in our investments. Thanks to this
solid platform, Waha Capital is now in a strong position to make further
investments such as our recent acquisition of Anglo Arabian Healthcare, as well as deploying additional capital
in investee companies.”